WASHINGTON - Shares of Virgin Galactic Holdings Inc. fell more than three percent yesterday (13/8). Quoted from Reuters, Friday (13/8) this happened after its founder and British billionaire Richard Branson sold some of his shares worth nearly 300 million US dollars or equivalent to Rp. 4.29 trillion (an exchange rate of Rp. 14,300 per US dollar).
Branson sold more than 10 million shares between August 10 and 12, 2021. The move comes a month after the space tourism company completed its first fully manned test flight into space with Branson aboard.
The latest stock sale leaves Branson with about 46.3 million shares worth about $1.2 billion at the stock's last closing price. Previously, he also in April 2021 sold shares worth more than 150 million US dollars.
Virgin Investments Branson is one of the largest shareholders of a space tourism company. According to Refinitiv data, he also owns about 22 percent stake as of June 2021. The company's stock was last down at 25.09 US dollars in premarket trading on Friday.